CNBC recognizes Arkose Labs as a fast-growing company to watch.
Arkose Labs, the platform that bankrupts the business model of fraud and abuse, today announced it has been named to the prestigious 2019 CNBC Upstart 100 List, which recognizes fast-growing, early-stage start-ups to watch.
CNBC launched the Upstart 100 with the goal of discovering a diverse group of companies that reveal key trends and new market opportunities that smart entrepreneurs are chasing. All 2019 CNBC Upstart 100 companies are evaluated in several categories, including sales growth, customer growth, workforce diversity, access to capital, intellectual property, industry size and industry life-cycle stage.
“Arkose Labs is in a period of extreme growth. The tumultuous 2019 fraud threat landscape is fueling demand for our innovative fraud and abuse solution. New data breaches are announced daily and enterprises with public-facing web and mobile applications have become top targets for fraud as a result,” said Kevin Gosschalk, CEO of Arkose Labs. “Security strategies rooted in fraud mitigation are failing. Arkose Labs is the first and only company to guarantee the efficacy of our technology with an SLA on its primary function: preventing all automated fraud and abuse from achieving scale and return on investment.”
Arkose Labs disrupts how attacks are monetized while delivering an unrivaled customer experience. Its platform accurately identifies inauthentic actors through Telemetry, and then targets them with an Adaptive Step-Up Challenge to diminish attack ROI without adding friction for good customers. In the last 12 months, Arkose Labs prevented more than $100 million in attempted fraud and serves companies in the online marketplaces, travel, banking, social media and online gaming sector.
“I am proud of the team at Arkose Labs and excited for the well-deserved recognition they received by CNBC,” said Arkose Labs Board Member Dafina Toncheva. “Arkose has built a unique fraud detection technology which operates with unprecedented accuracy and ease of use. The service has made a huge difference with our customers across multiple industries fighting cybercrime. I am privileged to partner with Arkose and look forward to the next phase of growth.”
It’s been a busy few weeks for Arkose Labs. In addition to the CNBC Upstart 100 accolade, Arkose Labs was selected by SINET as one of its SINET 16 Innovators. The selection recognizes Arkose Labs’ advancement in critical security advancements. Last week, the company also issued its Q4 Fraud and Abuse Report which revealed some eye-opening fraud trends: That fraud has increased 30% overall in Q3 2019 and bot-driven account registration fraud is up 70% as cybercriminals test stolen credentials in advance of the holiday retail season.
Read the original press release from GlobeNewswire here.